— Standard Chartered Bank ‘has no connection whatsoever with the Sapelle’
A new financial institution, Sapelle International Bank Liberia Limited (SIBLL), has taken over the GN Bank Liberia Limited, member of the Group N’doum (GN), headquartered Ghana. The GN Bank Liberia Limited is headquartered on the Broad Street, Monrovia, with branches across Liberia.
A statement quoting the bank management, said the decision was approved by the Central Bank of Liberia (CBL) recently to operate under the license as SIBLL.
The bank will trade as “SIB”. This will heighten the Liberian character and nature of the Bank’s operations. SIBLL also has approval to operate the pay Global Mobile Money and Digital Banking product. According to its management, the Bank is ready to roll out its ATMs, making banking more convenient for its customers.
“SIBLL remains well capitalized and ready to service the banking needs of its numerous customers throughout Liberia,” the release said.
It can be recalled that in our August 11, 2020 edition the Daily Observer published a story titled: “GN Bank Liberia Taken Over By Standard Chartered Subsidiary”. Standard Chartered has categorically disassociates itself from the said publication.
“The Bank wishes to appraise the Daily Observer reporter that Standard Chartered Bank Ghana Limited does not own any subsidiary in Liberia,” Standard Chartered Ghana said in a statement yesterday. “Specifically, the Bank has no connection whatsoever with the Sapelle International Bank Liberia Limited quoted in the false reports. Standard Chartered Bank Ghana Limited is not in any discussions, directly or indirectly, and neither does it plan to initiate discussions with any entity in Liberia for an acquisition or takeover of any kind.”